A Report
To The Wall Street Journal's
World-Wide Readers

Updated Jan. 3, 2001 12:01 a.m. ET

D ear Reader:

Each year at this time, I take this space to report to you about some aspect of The Wall Street Journal, and our approach to publishing it. I view this letter as an opportunity to help you better understand how we are seeking to serve you as a reader -- and to invite you to let us know how well we're succeeding.

In fact, while the tradition of this letter is almost a quarter-century old, the spirit that animates...